The Trump administration has appealed to the U.S. Supreme Court to defend its authority to impose tariffs under the 1977 International Emergency Powers Act. This follows a federal court ruling 7-4 against Trump’s tariff powers, siding with states and small businesses that argue tariffs are crippling their survival. The administration warns that striking them down could harm trade talks, force massive Treasury refunds, and create economic chaos. The Supreme Court’s ruling may set a precedent limiting presidential trade authority.
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